Sparkling buy

Saturday 10 July 1993 23:02 BST

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Louis Roederer, makers of Cristal champagne, are to buy Deutz, another established firm in the industry.

The deal was concluded within two days after a big French pension fund, GMF (Garantie Mutuelle des Fonctionnaires) had backed out after long negotiations.

The deal leaves the Lallier family, descendants of Mr Deutz who founded the firm in 1838, with just under 20 per cent of the shares.

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